Soybean oil exports in 2018/19 to increase 20%
The export of soybean oil in MY2018/19 should increase by 20% to 230 thou. tons. This was informed by Julia Ivanitskaya, the oil markets analyst at APK-Inform, AgroTimes informs.
The production of soybean oil is projected at 255 thou. tons (+20%). It is noted that the forecast for soybean meal/cake production and export stands at 1.1 million tons (+20%) and 500 thou. tons (+43%), respectively.
At the same time, last season about 350 thou. tons of soybean meal (+17% as compared with MY2016/17) and 190 thou. tons of soybean oil (+8%) were supplied to the foreign markets.
As reported earlier, the export of soybean oil from the key producing countries in November 2018 dropped to 477 thou. tons against 704 thou. tons a month earlier, which is also lower than November 2017 shipments (498 thou. tons).